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A financial instrument representing a loan made by an investor to a borrower (typically a corporation or government) with the promise of repayment with interest.
Công ty phát hành trái phiếu để huy động vốn.
The company issues bonds to raise capital.
In Vietnamese, 'trái phiếu' is the standard term for bonds, similar to 'bond' in English.
Remember that 'trái phiếu' (bond) is debt, while 'cổ phiếu' (stock) represents ownership.
Bonds typically have fixed interest payments and a maturity date, unlike stocks.
The term 'trái phiếu' is a calque from Chinese '債券' (zhàiquàn), where 'trái' means 'debt' and 'phiếu' means 'certificate'.
In Vietnamese, 'trái phiếu' is used in both formal and informal contexts when discussing investments. It is distinct from 'cổ phiếu' (stock).